Marcus & Millichap Sells Multifamily Property In Ceres For $32.6M

The Vineyard, an apartment property located at 1625 Richland Avenue in Ceres, was sold for $32.6 million. The property, constructed in 1979, consists of 212 units with an average size of 671 square feet each. The amenities of The Vineyard include open floor plans, spacious kitchen pantries, central heating and air conditioning, swimming pools, laundry facilities, covered parking, pathways, and a walking/jogging trail.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,600,000
• Units: 212
• Price Per Unit: $153,774
• Market: Ceres

Jon Mimms from Marcus & Millichap's Fresno office facilitated the sale of The Vineyard. The deal was concluded at a price of $32.6 million, translating to $153,774 per unit. The Vineyard offers a range of amenities, reflective of its appeal to potential buyers in the Ceres market.